1026
ITALY
On June 30, 1919, the savings deposited with the co-operative credit and ordinary credit companies amounted to 3,872,424,058 lire, and Monti di pieki, 292,269,738 lire, and with Gasse rurali 281,991,528.
On August 12, 1912, a Law came into operation establishing life assur- ance as a State monopoly, The existing insurance companies were allowed to continue their operations for 10 years under certain conditions. The National Insurance Institute carries out the Government business. It started operations on January 1, 1913, and has already assumed large pro- portions, having absorbed the business of 24 insurance companies (15 foreign and 9 Italian). According to the law, the companies which at the end of 1911 were engaged in life insurance in the Kingdom which did not cede their business to the Government were given the privilege of continuing their business for not more than 10 j'ears, with the obligation of turning over to the Government Institute 40 per cent, of the business done after the beginning of the new regime. Only 3 Italian and 9 foreign companies con- tinued husiness in Italy under these conditions and later one of these also ceded its business to the Institute. Branches of the National Institute of Insurance were established in every Province of Italy, 2,386 branches in all. The insurance effected by the Institute in the years 1916 and 1917 was as follows : —
1916
1917
—
No. of Contracts
Amount
Xo.of Coiititicts
Amount
Insurance issued Insurance paid .
11,486 10,555
Lire 89,028,929 81,597,632
11,066 10,369
Lire 112,923,216 103,955,024
Money, Weights, and Measures.
The money, weights, and measures of Italy are the same as those of France, the names only being altered to the Italian form.
The Lira of 100 Oentesimi ; intrinsic value, 25 "22^ to 11. sterling.
The coin in circulation consists of gold 10-lire, 20-lire, 50-lire and 100-lirc pieces; of silver 50 cent, 1-lira, 2-lire, and 5-lire pieces; nickel 20 cent pieces, and bronze 1, 2, 5 and 10 cent pieces. Nickel coin is being substituted for bronze to a large amount. Bank notes of 25, 50, 100, 5C0 and 1,000 lire are in circulation ; also small notes, issued by the State (biglietti di Stato), for 5 and 10 lire. During the war there were issued cash notes (buoni di cassa) of 1 and 2 lire, in substitution for silver pieces ot corresponding value.
Diplomatic Representatives.
1. Of Italy in Grfat Britain.
Ambassador. — Nobile Cavaliere Giacomo de Martino (appointed November 11, 1920).
Secretaries. — Gabriele Preziosi, Giovanni Balsamo, Achille Trombetti, and Tommasso Assereto.
Military Attache'. — Col. Virginio Riggi.
Naval Attache. — Captain Luigi Bianchi.
Air Attache. — Major Carlo Graziani.
Chancellor. — Giuseppe de Grossi.
Archivist. — Cavaliere Ugo Catnni.
Consul in London. — Marquis A. Faa di Bruno.
